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What is Thorchain (Rune)? Everything about Rune price, chart, and market cap

Discussion in 'Say Anything' started by Mona2310, Aug 26, 2020.

  1. Mona2310

    Mona2310 New Member

    Rune is one of the hot token in recent time. Have you heard about it? If you have not, let read the article below. I will share all information about Rune coin and Thorchain project.

    What Is Thorchain (Rune)?

    THORChain (RUNE) is a permissionless, cross-chain decentralized liquidity network that allows for instant swaps of digital assets (Crypto). In THORChain's model, they have liquidity pools, Crypto Assets assets will be staked in this pool. The stakes will earn fees accordingly.

    At the same time, pools with these Crypto Assets will be used to provide instant swaps, borrowing, lending, or other payment services.


    How does THORChain work?

    To solve the above problems, THORChain created an ecosystem of the following components:

    • THORCHAIN: Instant decentralized liquidity protocol built on Layer 1.
    • YGGDRASIL PROTOCOL: A fast and secure Cross-chain Bridge for THORChain.
    • FLASH NETWORK: Layer 2 network for the exchange of Crypto assets between cross-networks. In Layer 2 there are Liquidity Hubs.
    • BIFRÖST PROTOCOL: Cross-chain protocol for THORChain.
    • ASGARDEX: A fast and secure liquidity interface set for THORChain.
    • ÆSIR PROTOCOL: Management Protocol Suite for THORChain.
    Review Rune Token

    RUNE is the Native Token inside of THORChain's platform. In THORChain's ecosystem, RUNE serves as the Utility Token. It is used for the swap, staking fee payment in the Governance mechanism, rewards for the Validators.

    As confirmed by the admin on the Telegram group of the project, they will implement the Mainnet in 2020. At that time, the RUNE will swap from BEP-2 to Native Token.

    Basic information about RUNE token
    • Ticker: RUNE
    • Blockchain: Binance Chain
    • Token Standard: BEP2
    • Owner: bnb1e4q8whcufp6d72w8nwmpuhxd96r4n0fstegyuy
    • Token type: Utility Token
    • Total Supply: 1,000,000,000 RUNE
    • Initial Circulating Supply: 7%
    • Circulating Supply: 0 RUNE (token has not been officially sold, so there is no circulation)

    What is RUNE Token used for?

    After the Mainnet and fully functional, RUNE will have the uses in the THORChain ecosystem:

    The RUNE Token back is behind all Pools CLP to create liquidity.

    Validators must use RUNE Tokens to stake and become part of the Validator Set. These Validators or Block Producers will be responsible for validating transactions and creating blocks inside THORChain's Blockchain network.
    • RUNE Token is used to pay transaction fees inside THORChain's Blockchain network.
    RUNT Token is used to pay trading fees, bridge fees, and liquidity fees when using THORChain's services.
    • RUNE Token is used to pay the participation fee and Liquidity Hubs.
    RUNE Token is used to pay liquidity fees to RUNE Token Holders in liquidity pools at Layer 1 and liquidity hubs at Layer 2.
    • RUNE Token is used to pay rewards to Validators.
    The amount of RUNE Token Rewards block rewards paid depends on the number of tokens each of these Validators initially staked. This helps to encourage more active and staking validators.

    The THORChain team also stressed that the RUNE Token was not born as a payment token.

    The RUNE is designed as a liquidity bridge for Pools. It acts as base assets so that assets of 2 different pools (2 different crypto assets) can atomically swap (instant swap) for each other.

    ➤ To find out more about Rune token, please click here.

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